The typical asking rate per listing is in the $30's per square foot per year. The Third Ward submarket is going through a a rise in rates. In the last 3 months, the median rate increased $9 per sqft per year. That's a 28% increase in rent.
Compared to the rest of the Metrolina market, the Third Ward region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 21 listings have been posted online, which means leases are probably going fast. You'll want to be prepared to make an offer immediately. About 14% of the available space in the Third Ward are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 8,680 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are approximately 15 stories. Most buildings in this region were built in 1959 and are Class A.
This area is fairly equally mixed residential and commercial. Real estate is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Third Ward occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.